Pernod Ricard to buy Italian gin brand Malfy
Drinks giant Pernod Ricard is pushing deeper into the world of super-premium spirits with the acquisition of high-end Italian gin brand Malfy. The new brand will add to Pernod Ricard’s growing collection of (what are becoming termed) “craft spirits” – a term analogous to craft beers, highlighting the focus on small-scale production, focus on quality, and authenticity in story-telling that has captured millennials’ attention in recent years. The acquisition sum has not been disclosed.
Pernod Ricard’s share price has appreciated by 10% so far this year
Source: Yahoo Finance
Jeff Agdern Pernod Ricard’s senior vice president of new brand ventures, prefers not to use the “craft” label to discuss the company’s spirits. But, labels aside, Pernod Ricard’s recent focus on quality brands certainly has some of the same characteristics. Discussing terminology, he said: “We find that consumers do not have a clear definition of craft; it is more of a trade term. There is inconsistency in how to define craft. We don’t look at our brands as craft or non-craft. Brands like Smooth Ambler and Monkey 47 are brands that have an authentic heritage, provenance, passionate founders, strong distillation and a brand story to tell.”
Malfy will fit right in with these names. The brand produces around 100,000 cases of gin bottles per year, using genuine Italian ingredients like “Italian Juniper, coastal grown Italian lemons and Sicilian blood oranges, and pink grapefruits.” It’s made in the Moncalieri region in Piedmont, Italy, by the Vergnano family, and sold in the US, the UK and Germany.
Christian Porta, Pernod Ricard’s head of global business development, said: “This acquisition is true to our long-standing strategy of investing in brands with strong potential in growing categories. In line with the launch of our “transform and Accelerate” strategic plan, we will continue actively managing our fantastic portfolio of brands.”
Dominion holds Pernod Ricard in its Global Trends Luxury Fund.
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